Big 12 name change to draw as much as $50 million in extra funds for Brett Yormark's FBS powerhouse: Report

The Big 12 Conference has been in the news today as there have been reports that the conference could be changing its name in a first-of-its-kind deal. It is being reported by Action Network's Brett McMurphy that the Big 12 name change could be with the insurance company Allstate for anywhere between $30-50 million per year, which would be divided among the 16 members of the conference.

However, that is not the only company that has been in talks as the Big 12 Conference has discussed naming rights with a finance company as well. The belief is that if the deal is accepted, the conference will change its name to the "Allstate 12 Conference" or the "Big Allstate Conference".

This would be a significant revenue boost to the conference as commissioner Brett Yormark could realistically compete with the SEC and the Big Ten conferences in conference realignment. During the Big 12's spring meeting on May 30, Yormark discussed the significance of creating more revenue streams for the conference.

"When I think about my background, I certainly do believe that collegiate athletics is shifting, more closely to where I came from than where we are today." h/t Action Network

It will be intriguing to see if this deal would happen prior to the kickoff of the 2024 college football season and how the general public would receive the changes.

How significant of a move is changing the naming rights of the Big 12 Conference?

While the naming rights of the Big 12 Conference are something that is going to be weird to adjust to at first if this deal happens, in the grand scheme of things, it is not going to mean too much for the average viewer. Companies and franchises changing their name eventually catch on and this is something that is not viewed negatively.

People will still refer to the conference as the Big 12 for at least a while but eventually, this is something that helps the conference itself. The conference will see significant revenue increases as each program in the league will receive millions over the life of the deal. This will help attract larger schools to the conference as more money is being distributed and continue to raise the stock of the Big 12.